A cryptocurrency scam gang was arrested for defrauding 16 billion won, with suspects evading capture through plastic surgery and wigs

ChainCatcher news, a gang in South Korea has been arrested by the police for defrauding approximately 16 billion won (about 11.96 million USD) from more than 150 victims. To evade police tracking, these individuals underwent facial contouring surgeries and wore wigs.

From November 2021 to June 2022, the Financial Crime Investigation Team of the Seoul Metropolitan Police Agency deceived 158 victims and collected about 16 billion won from them, among which the gang leader A was arrested for embezzling approximately 4.5 billion won, suspected of fraud, violating the Receipt Act, and violating the Electronic Act.

A employed various escape methods. He underwent double eyelid, nose, and facial contouring surgeries worth about 21 million won and wore a wig. A also frequently changed residences with the help of acquaintances, using fake phones and fake bank accounts. The police seized and confiscated 100 million won from A's hideout upon his arrest and confiscated 1.3 billion won in assets from A and others before prosecution.